The song is called "Elbereth Gilthoniel"
and I just happen to have the words in Quenya (speech of the high elves) and English.

Snow-white! Snow-white! O Lady clear!
O Queen beyond the Western Seas!
O Light to us that wander here
Amid the world of woven trees!

Gilthoniel! O Elbereth!
Clear are thy eyes and bright thy breath!
Snow-white! Snow-white! We sing to thee
in a far land beyond the Sea.

O stars that in the Sunless Year
with shining hand by her were sown,
in windy fields now bright and clear
we see your silver blossom blown!

O Elbereth! Gilthoniel!
We still remember, we who dwell
In this far land beneath the trees,
Thy starlight on the Western Seas.

A Elbereth Gilthoniel,
silivren penna míriel
o menel aglar elenath!
Na-chaered palan-díriel
o galadhremmin ennorath,
Fanuilos, le linnathon
nef aear, si nef aearon!

A Elbereth Gilthoniel!
O menel palan-díriel
le nallon sí di'nguruthos!
A tiro nin, Fanuilos!

A! Elbereth Gilthoniel!
Silivren penna míriel
o menel aglar elenath!
We still remember, we who dwell
in this far land beneath the trees,
Thy starlight on the Western Seas.

The elves were indeed Noldor(AKA High elves)soo when Frodo says they were Wood elves in the movie, he is wrong.